The formulas for determining the franchise and transition tags ultimately tie the amount at each position to a percentage of the salary cap. Thus, once the salary cap is known, the tag amounts are known.
With the salary cap at a record-high $224.8 million for 2023, the tags have been determined.
Per multiple reports, the franchise tags are as follows:
Quarterback: $32,416,000.
Running back: $10,091,000.
Receiver: $19,743,000.
Tight end: $11,345,000.
Offensive line: $18,244,000.
Defensive end: $19,727,000.
Defensive tackle: $18,937,000.
Linebacker: $20,926,000.
Cornerback: $18,140,000.
Safety: $14,460,000.
Kicker/punter: $5,393,000.
The franchise tag allows a player to negotiate with other teams and sign an offer sheet. If his current team doesn’t match the offer, the new team gives up two first-round picks.
The transition tag provides only a right to match, with no compensation. The transition tags are as follows:
Quarterback: $29,504,000.
Running back: $8,429,000.
Receiver: $17,991,000.
Tight end: $9,716,000.
Offensive line: $16,660,000.
Defensive end: $17,452,000.
Defensive tackle: $16,068,000.
Linebacker: $17,478,000.
Cornerback: $15,791,000.
Safety: $11,867,000.
Kicker/punter: $4,869,000.
The window for applying the tags opens on February 21 and closes on March 7. All that really matters is the deadline; unless, however, teams want to apply it before the Scouting Combine in an effort to tamp down the rampant tampering that happens in Indianapolis.